From the monthly archives: May 2017

Posted on Tuesday, May 30, 2017Westpac has become the next big four bank to changes its interest only lending policies for both new and existing borrowers.

Effective from 5 June, the bank will reduce the maximum LVR on new and existing interest only lending to 80%. This change will apply to owner occupier and residential investment loans, equity access loans and special borrower packages such as Medico, Industry Specialisation Policy, Sports and Entertainment, and Accounting, Law and Executive Sector loans.Read the rest of entry »

Posted on Wednesday, May 10, 2017The Budget delivered by Treasurer Scott Morrison has clearly tried to hit the ‘reset button’ from the unpopular and disastrous Budgets of 2014-15 and 2015-16. Gone are the stalled Budget measures from those past Budgets, replaced by concern over the weak wages growth and struggle that everyday families experience. The big concern for me is how the banks will pass on the 6 basis point levy the Turnbull government has warned the big five banks not to lie to their customers if they pass on a new $6 billion levy, AAP reports. There are suggestions the banks may move quickly to raise mortgage rates by up to 0.15 per cent to compensate for the budget measure. https://youtu.be/AadnEAWD38QRead the rest of entry »

Posted on Sunday, May 7, 2017Happy Budget Eve, usually known as Christmas for all those in financial services or for political journalists, but Fairfax management are the Christmas Grinch this year after revealing they are going to slash 125 jobs resulting in a strike this week.Read the rest of entry »

With the RBA holding rates in their May cash rate decision on Tuesday, Lowe’s comments on supply and transport imply the Government has the ability to control prices. With the Budget to be unveiled tomorrow, the Australian Financial Review reported in April that the Government was considering limiting the number of properties a single investor could own.
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